Midatech Bets on Bioasis Merger For Survival

UK Firm Been Through Turbulent Times

With just enough cash to stay afloat until the first quarter, Midatech is linking up with US-based, Canada-listed Bioasis to create a new rare disease player, Biodexa.

Mismatch
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With cash rapidly running out, the UK's Midatech Pharma PLC hopes to have secured its future by merging with Bioasis Technologies, Inc. to create "a multi-asset rare and orphan disease company" that will be renamed Biodexa Pharmaceuticals.

Midatech, which trades on the US NASDAQ, is buying Toronto Stock Exchange-listed Bioasis for C$7.4m ($5.4m) in shares and announced...

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